Oil and Gas and Geothermal Production Increases

Under the conditions of the problem in the right-left, such as should not raise the price of fuel oil, PT Pertamina can be a little grateful because of the performance of oil and gas (oil and gas) and geothermal production in the first quarter of 2018 grew. They hope that the growth momentum will be maintained until 2018. From January March 2018, Pertamina listed oil and gas equivalent oil production along 923,000 barrels of oll equivalent per day (boepd).

Details, 386,000 barrels per day (bpd) of oil production and 3.115 million standard cubic feet per clay (mmscfd) of gas production. Pertamina's only stagnant performance is the geothermal installed capacity of 617 megawatts (mw). But Pertamina is targeting, the capacity will soon increase.

"Currently, the Lumut Balai Unit 1 geothermal project is in the EPC phase and is scheduled to be onstream in Q4 of 2018," said Syamsu Alam, Upstream Director of PT Pertamina (Persero).

For continued performance growth, Pertamina maintains the oil and gas production of Mahakam Block by developing Tunu Shallow Phase 4 Field, Handil Phase 5 and Tambora Phase 5.

Banyu Urip-ExxonMobil Field

Pertamina also plans to increase the production of Banyu Urip-ExxonMobil Field, decrease the decline rate or the rate of production decline by drilling 108 wells and doing well service or repairing wells. After that, the company will re-activate the oil and gas field and optimize the geothermal operation of Ulubelu, Kamojang and Lahendong. 

Jambaran Tiung Biru Field

     While upstream projects that become Pertamina's priorities such as geothermal Karaha and Lumut Balai and gas Jambaran Tiung Biru. Another priority is the development of PIEP PLN Phase IV project to increase oil and gas production from international.

Related to the acquisition of oil and gas, the government decided 100% of the right to manage or participating interest (PI) of 2018 oil and gas blocks fell to Pertamina. The blocks include Tuban, Ogan Komering, NSO, Sanga-Sanga, Attaka, East Kal, OSES, and Central.

"The process of block termination management including operations and human resources runs smoothly," said Syamsu.

Kontan,  Page-14, Wednesday, May 30, 2018